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this Resolution and the Indenture, and the City is to provide the cost of maintaining the Facilities in good repair, the cost of keeping the Facilities properly insured, and any payments required for taxes and any expenses incurred by the Authority in connection with the Facilities. 1.02. Sale of Bonds. Pursuant to the provisions of Minnesota Statutes, Section 475.60; subdivision 2(9), the public sale requirements do not apply to the sale of the Bonds since the Authority has retained Ehlers & Associates, Inc. as independent financial advisors. The Board has received an offer from , in , and associates (the Purchaser), to purchase the Bonds at a price of $ plus accrued interest on all Bonds to the day of delivery and payment, on the further terms and conditions hereinafter set forth and set forth in the Indenture. The offer is hereby accepted, and the Chair and the Secretary/Treasurer are hereby authorized and directed to execute a contract on the part of the Authority for the sale of the Bonds with the Purchaser. Section 2. BOND TERMS; REGISTRATION• EXECUTION AND DELIVERY. 2.01. Issuance of Bonds. For the purpose of paying the costs of the acquisition, construction and furnishing of the Facilities;this Board hereby authorizes the issuance of the Bonds in the aggregate principal amount of$5,530,000. All acts, conditions and things which are required by the Constitution and laws of the State of Minnesota to be done, to exist,to happen and to be performed precedent to and in the valid issuance of the Bonds having been done, existing, having happened and having been performed, it is now necessary for this Board to establish the form and terms of the Bonds,to provide security therefor and to issue the Bonds forthwith. 2.02. Terms of the Bonds. The Bonds shall be designated "Public Facilities Lease Revenue Bonds, Series 2003 (City of St. Anthony, Minnesota Lease Obligation"). The terms of the Bonds, including without limitation,the date of original issue, interest payment dates, maturity dates and principal amounts, interest rates, redemption provisions, and provisions for registration and exchange shall be as set forth in Articles II and III of the Indenture which are incorporated herein by reference. 2.03. Execution, Authentication and Delivery. The Bonds shall be executed by the Authority, and authenticated and delivered by the Trustee, in accordance with the applicable provisions of Article II of the Indenture which are incorporated herein by reference. 2.04. Form of Bonds. The Bonds shall be printed in substantially the form set forth in Section 2.01 of the Indenture. SECTION 3. APPROVAL OF GROUND LEASE; LEASE AGREEMENT• INDENTURE. The form of the Ground Lease, and the form of the Lease Agreement and the Indenture, are hereby approved. The Chair and Secretary/Treasurer are hereby authorized and directed to execute and deliver said documents in the name and on behalf of the Authority with such variations, omissions and insertions as the Chair and Secretary/Treasurer shall approve, -2-